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The 10 Most Financially Savvy StatesThe 10 Most Financially Savvy States

The list here may serve as a valuable prospecting tool for advisors.

Diana Britton, Managing Editor

October 1, 2018

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When it comes to prospective clients, most advisors would probably prefer they be in good financial shape. To be sure, households with healthy balance sheets and more investible assets make for ideal clients.

The list here—which includes the 10 most financially savvy states in the country, according to a recent ranking by WalletHub.com—may serve as a valuable prospecting tool for advisors.

WalletHub scored the 50 states and the District of Columbia across four aspects: debt and spending, financial literacy, credit and saving. The website used 24 metrics within those four and weighted each one.

Massachusetts, for example, had the lowest credit card debt and lowest share of adults spending more than they earn. The state also had a high percentage of adults using online financial advice services and a high savings account average of nearly $7,000.

Click through to see the top 10 states, and some interesting data points.

About the Author

Diana Britton

Managing Editor, WealthManagement.com

Diana Britton is the Managing Editor of WealthManagement.com, covering covering independent broker/dealers and RIAs from all angles. She's also the host of The Healthy Advisor, a podcast focused on advisor health and wellbeing. A native of Los Angeles, she now lives in Rocklin, Calif.

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